The Maryland Association of Realtors (MAR) makes great efforts in legislative advocacy at the state level, with a focus on supporting and developing legislation that helps the real estate industry and supports the business interests of real estate professionals.

In a recent news release from MAR, it was noted that, Janice Kirkner, 2015 President of MAR, provided testimony before the House of Ways & Means Committee of the House of Delegates, expressing strong support for House Bill 953. This bill would help Marylanders who want to provide financial assistance for a family member seeking to buy a home. The bill would provide an exemption from income tax for interest earned on a special savings account, which could be used for down payment assistance for first time homebuyers. Kirkner noted, "A recent survey by the National Association of Realtors found that first time homebuyers are now at the lowest share of the market than at any time in the last 30 years." She went on to say the same study showed that "26% of first-time homebuyers received assistance from a relative or friend." Immediate Past President Russ Boyce testified at the Maryland Senate level in support of this bill, SB372, citing rising rents and student debt coupled with tougher underwriting requirements make it difficult for first-time homebuyers to have enough cash to qualify for a home loan.

The legislative committee at MAR typically reviews over 200 pieces of legislation and regulations each year and provides a report on the legislation that will most likely affect the real estate industry. This report is entitled Summary of Real Estate Legislation, and can be found on their website at www.mdrealtor.org under the tab "Legislation".

Lauren Bunting is a licensed REALTOR®with Bunting Realty, Inc. in Berlin, MD.

Lauren Bunting is a Broker with Keller Williams Realty of Delmarva in Ocean City, Maryland.